Dubai: Ailing Falcon City of Wonders back on track

The main developer of the Falcon City of Wonders has revealed the long-delayed project will gain new life this year with around $2bn in new investments.

The falcon-shaped projects, which is billed to include replics of The Pyramids and the Taj Mahal, has seen only a tenth of the 5,500 planned homes built since its launch in 2005.

Salem Ahmad Almoosa Enterprises, the conglomerate spearheading the project, said sub-developers in charge of attractions such as replicas of the Leaning Tower of Pisa and the Eiffel Tower are behind the development's troubles.

Alharith Almoosa, vice-chairman of Falcon City of Wonders, said: "When we sold these we made it very clear, they had to start construction immediately and they kept on delaying."

Speaking to Reuters at a property exhibition in Hong Kong, Almoosa said Falcon City has since retaken control of more than 10 of these sub-development which include a mix of residential units, retail, offices and hotels.